Lego to cut 1,400 jobs as sales slide

Toymaker Lego is cutting 1,400 jobs worldwide in the face of falling sales and profits. There is no detail as to where the jobs will be cut. Lego's half-year results saw revenue drop 5% to 14.9bn Danish krone with profits down 3% to 4.4bn krone. The company said it needed to make the job cuts as its business had become too complex and needed a "Reset". It said the jobs would go by the end of this year but there would be redundancy packages and other support.